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3 years ago

Adding up all of the income in an economy in a given year is one approach to calculating which of the following?

2 answers:

8 0

The correct answer is <span>b.)GROSS DOMESTIC PRODUCT

In reality, the answer is a bit complex. The GDP is actually used to determine whether or not an economy is healthy and developing, but this does not actually show that the people are living good, rather that the production is occurring efficiently.</span>

belka [17]3 years ago

5 0

The answer is B. Gross Domestic Product.

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Economists normally assume that the goal of a firm is to

Elina [12.6K]

Answer:

Profit Maximisation

Explanation:

Profit is the difference between total revenue (receipts) from sale & total cost (expenditure) on production.

Total Revenue = Price x Quantity ; Total Cost = Average Cost x Quantity

Economists study all the producer behaviour, based on assumption that : Goal of firm is Profit Maximisation.

Maximising Profit implies maximising the difference between Total Revenue & Total Cost [ TR - TC] . This further leads to producer equilibrium rule of Marginal Revenue = Marginal Cost [MR = MC] ; i.e additional revenue per unit sold equals additional cost per unit production.

6 0

3 years ago

Which of the following is a disadvantage of a questionnaire?

Deffense [45]

The sentence that shows the disadvantage of a questionnaire is option D. The sample of individuals who respond may not be representative of the population.

<h3>What is a questionnaire?</h3>

A questionnaire is a set of printed or written questions with a choice of answers, devised for the purposes of a survey or statistical study.

Therefore, the correct answer is option D. The sample of individuals who respond may not be representative of the population.

learn more about questionnaire: brainly.com/question/25257437

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2 years ago

Barton and Fallows form a partnership by combining the assets of their separate businesses. Barton contributes accounts receivab

Zigmanuir [339]

Answer:

(a) Barton's investment

Date Account Titles and Explanation Debit Credit

Accounts receivables $44,900

($48,000 - $3,100)

Equipment $90,000

Allowances for uncollectible $1,300

Barton Capital $133,600

(To record Barton's contribution)

(b) Fallows' investment

Date Account Titles and Explanation Debit Credit

Cash $28,700

Merchandise Inventory $60,500

Fallow Capital $89,200

(To record Fallow's contribution)

3 0

4 years ago

Concepts for Analysis 24-3 (Essay) Presented below are three independent situations.

Helga [31]

Answer:1. Make provision for warranty claims.

2. Disclosure of contingent liability

3. No cost should be recorded.

Explanation:

Warranty is an assurance made by firms to make good any agreed loss that is incurred by the customers in usage of goods and services whiting the period of the warranty. Since an estimation can be made based on firms history of sales a provision has to be made for possible warranty.

Since it's only probably that a loss will be Incurred by the firm by going into the contract and the financial statement has not been issue the firm should made a contingent liability disclosure in the report.

The self insurance is not a contract with a third party, in this vein no cost will be accrued until the loss is actually suffered.

6 0

3 years ago

On January 1, 2021, Nantucket Ferry borrowed $14,000,000 cash from BankOne and issued a four-year, $14,000,000, 6% note. Interes

kari74 [83]

Answer:

If Interest is not Paid yet

Nantucket Ferry

Dr. Interest Expense $840,000

Cr. Interest payable $840,000

BankOne

Dr. Interest receivable $840,000

Cr. Interest Income $840,000

If Interest is Paid

Nantucket Ferry

Dr. Interest Expense $840,000

Cr. Cash $840,000

BankOne

Dr. Cash $840,000

Cr. Interest Income $840,000

Explanation:

Amount of interest is the expense for Nantucket Ferry and Income for the BankOne on the bond.

As per given data

Amount borrowed = $14,000,000

Coupon rate = 6%

Interest in paid on and received on the bnd is calculated by using the face value and coupon rate of the bond.

Coupon Payment = $14,000,000 x 6% = $840,000

$840,000 will be paid annually to the Bank one.

6 0

3 years ago